Norway's wealth fund to announce measures on Israeli investments next week

Norway's $2 trillion sovereign wealth fund will next week announce changes to how it handles its Israeli investments, Finance Minister Jens Stoltenberg said on Friday, ruling out any blanket withdrawal over Israel's war on Gaza.

The government on Tuesday said that it had launched an urgent review of the fund's investments over ethical concerns linked to the war on Gaza and the Israeli occupation of the West Bank.

"I see several measures over time, but what can be addressed quickly, must be done quickly," Stoltenberg told a press conference after holding his second meeting with fund officials in three days.

He did not specify what the measures might involve, but said there would not be a wholesale divestment from all Israeli companies. "If we did that, it would mean we are divesting from them because they are Israeli," he said.

The review followed local news reports that the fund had built a stake in Israeli jet engine manufacturer Bet Shemesh Engines Ltd (BSEL), which provides services to Israel's armed forces, including the maintenance of fighter jets. The revelation has sparked political debate in the Nordic country ahead of elections on 8 September.